Dallas-based Pioneer Natural Resources Co. said it plans toacquire the working interests in 12 non-producing Gulf of Mexicoblocks from a Baker Hughes Inc. subsidiary for $23 million. Theproperties include a one-third interest in the Marathon-operatedCamden Hills natural gas discovery in Mississippi Canyon 348, whichis expected to have gas production in 2002.

The Camden Hills field is being jointly developed byElf-operated Aconcagua and BP-operated King’s Peak fields in theCanyon Express Project. Pioneer already had a 23% working interestin the Aconcagua field, and with the Camden Hills acquisition,Pioneer would own 18% interest in the 500 MMcf/d project.

Pioneer’s buy also includes six shelf blocks and five otherdeepwater blocks, with working interest in the shelf tracts varyingbetween 5% and 30% in each. The company would have a one-thirdinterest in each of the deepwater blocks. Pioneer now has 15deepwater blocks, with 10 added this year alone, acquired throughfederal lease sales and this week’s announced acquisition. Four ofthe 15 blocks are Pioneer-operated.

Pioneer also has added to its Canadian holdings, obtaining 100%interest in its Chinchaga gas field in northeast British Columbia.It acquired the remaining 13% interest from Triumph Energy Corp.for $9 million earlier this month. The acquisition is expected toadd 1.5 MM boe proved reserves and production of 475 boe/d. As manyas 70 extension and infill drilling locations are planned in thefield in the next three drilling seasons.

The independent oil and gas company will announce its thirdquarter earnings today.

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